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Official Gazette

Saturday, January 23, 2021
Tags: public companies
New regulations on tax administration New regulations on tax administration
The guiding text of the 2019 Law on Tax Administration has recently been issued by the Government with a series of new provisions designed to create convenience for taxpayers and reduce tax-related compliance costs while increasing the effectiveness of tax administration activities.
New requirements on information disclosure on securities market New requirements on information disclosure on securities market
From January 1, 2021, entities obliged to perform information disclosure include public companies; bond issuers; institutions carrying out initial public offering (IPO); corporate bond-listing institutions; securities companies and securities investment fund management companies; Vietnam-based branches of overseas securities companies and investment funds; Vietnam-based representative offices of foreign securities companies and fund management companies; and public funds and public securities investment companies, among others.
Public companies no longer allowed to decide on foreign holding caps Public companies no longer allowed to decide on foreign holding caps
The State Securities Commission has recently proposed abolishing a regulation permitting public companies to provide the maximum foreign ownership rate in their company charters. 
New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019 New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019
Adopted in late 2019 with many new changes, the amended Law on Securities, available on Official Gazette issues Nos. 136-144 of 2019, is expected to make a positive impact on the Vietnam’s stock market.
Anti-Corruption Law Anti-Corruption Law
The National Assembly promulgated the Anti-Corruption Law last November, extending the fight against corruption in the non-state sector. The Law supersedes its predecessor enacted in 2005 with revisions made in 2007 and 2012 (the 2005 Law).
Intl accounting rules compulsory after 2025: draft Int’l accounting rules compulsory after 2025: draft
The adoption of International Financial Reporting Standards (IFRS) will be compulsory for State-owned enterprises (SOEs), listed companies and large-scale unlisted public companies after 2025, according to a draft project the Ministry of Finance recently made public for comments.
Draft Securities Law proposes expanding foreign holding cap Draft Securities Law proposes expanding foreign holding cap
The Ministry of Finance has recently held a series of conferences to collect opinions from legal experts and stakeholders on the draft Securities Law, focusing on such issues as conditions for acquiring public company status and foreign holding cap in public companies, public offering and private placement of stocks and bonds, powers of the State Securities Commission, and organizational and operational model of Stock Exchanges.
Pay radio and television enterprises to be equitized Pay radio and television enterprises to be equitized
From now to 2020, state-owned pay radio and television service enterprises would be equitized and listed on the securities market, according to a draft decree revising Decree 06 of 2016 on management, provision and use of radio and television services.
Draft decree raises foreign holding cap in domestic airlines Draft decree raises foreign holding cap in domestic airlines
Foreign investors would be allowed to hold up to 49 percent of charter capital in a domestic airline, instead of the current 30 percent, according to a draft decree recently unveiled by the Ministry of Transport.
Nine solutions for a sustainable securities market Nine solutions for a sustainable securities market
Since its founding 22 years ago, Vietnam’s securities market has significantly grown and constantly improved its structure as an important capital raising channel of the economy, contributing to improving the market economy institution and promoting international integration.

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